look news india
Mumbai: After the global market, the fall in gold and silver prices stopped at the domestic level. Due to lower levels of support in the global market, the price of the precious metal increased, which was reflected in the domestic markets. Gold appears to be stable at lower levels ahead of October inflation in the US. Traders are also keeping an eye on Trump’s new policies and inflation. Gold again crossed the level of 2600 in the world market. Crude oil prices remained steady at lower levels ahead of the release of US crude oil stocks data.
In the local Mumbai jewelery market, the non-GST price of 99.90 ten grams gold rose by Rs 360 to Rs 75,260. The price of ten grams of Rs 99.50 was Rs 74959. Prices increased by three percent due to GST. The non-GST price of silver .999 per kg rose by Rs 1495 to Rs 89747. Prices increased by three percent due to GST.
In Ahmedabad market, gold was quoted at Rs 77,800 at 99.90 per ten grams, while at Rs 99.50 per ten grams it was quoted at Rs 77,600. The price of silver .999 per kg increased by Rs 2,000 to Rs 91,500 compared to Tuesday.
In the global market, gold again crossed $2600 per ounce late in the evening and closed at $2609. The price of silver was $30.88 per ounce. The market is keeping an eye on the October inflation data in the US. Gold is expected to remain in a limited range until the picture of Trump’s economic policy becomes clear.
The gap between the prices of other precious metals platinum and palladium seems to be narrowing to almost the same level. Platinum was at $946.55 an ounce while palladium was at $949.29. Palladium prices fell due to increased supply of palladium, especially from Russia.
Global crude oil prices remained stable at low prices. Stock data of the American Petroleum Institute was monitored. Nymax WTI crude oil was at $68.35 per barrel while ICE Brent crude was at $72.16 per barrel.